Coin.mx Team Jailed for Running Illegal Bitcoin Exchange

There is a new development in the ongoing Coin.mx court case. As most people are well aware, this particular cryptocurrency exchange operated without an official license, which prompted the US government to scrutinize all of its operators. Yuri Lebedev has been sentenced to 16 months in prison for his part in this Bitcoin exchange. It’s an interesting plot twist, to say the very least.

The tale of Coin.mx has been continuing for a long while now. In spite of the fact that the organization saw starting achievement, it worked without an official permit. At the time, there wasn't any official Bitcoin direction set up presently, however running an unlawful Bitcoin trade has dependably been disapproved of, for evident reasons. In addition, the stage was connected to a noteworthy robbery of information including JPMorgan Chase.

There has dependably been much more to Coin.mx than just the general population running it or the Bitcoin trade angle itself. Yuri Lebedev, a product build from Florida, has dependably been a basic piece of this continuous examination. His part has included supporting in the operations of Coin.mx to a specific degree, and also hacking JPMorgan Chase. Amid that information rupture, points of interest of more than 83 million client accounts were effectively uncovered.

As far back as that time, the US government has been attempting to get its hands on Lebedev and convict him all the while. Up until this point, those endeavors had been for the most part futile, yet a noteworthy achievement happened last Friday when Lebedev was condemned to 16 months in jail for his association in Coin.mx and the JPMorgan Chase information rupture. It is clear Lebedev has a ton to respond in due order regarding, despite the fact that his legal advisor isn't excessively satisfied with the decision.

Undoubtedly, lawyer Eric Creizman says he is "frustrated and disheartened" by this condemning. Considering the government condemning rules ring for to 97 months, a 16-month imprison sentence isn't the most noticeably bad conceivable result by any methods. The product build wasn't the main individual of enthusiasm for this case, however, as Trevon Gross was sentenced March for this year also.

According to the prosecution, Lebedev bribed Gross, a pastor, through church donations and other means. In exchange, Gross allowed the head honcho of Coin.mx to take over a small credit union. Another operator, Anthony Murgio, has already received a five-and-a-half-year prison sentence, whereas Gross will be sentenced later this month. It seems things are finally coming to a close as far as Coin.mx is concerned, which can only be considered a good thing.

All things considered, things are advancing nicely for the prosecution in this case, although the fight is far from over. More specifically, prosecutors still want to see Gary Shalon put behind bars as well. He continues to plead not guilty to criminal charges, which makes this process a lot more difficult. This is not the last we will hear about Coin.mx or the people involved with this exchange and the associated data breach.